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10A Action 2008 0602 Attach - Indenture of Trust
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10A Action 2008 0602 Attach - Indenture of Trust
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Staff Report
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6/2/2008
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10A Action 2008 0602
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may require such additional evidence as to it may deem reasonable. The Trustee may <br />conclusively rely on any certificate or report of any Independent Accountant or Independent <br />Redevelopment Consultant appointed by the Agency. <br />Section 6.05. Preservation and Inspection of Documents. All documents received by <br />the Trustee under the provisions of this Indenture shall be retained in its possession and shall <br />be subject at all reasonable times upon reasonable notice to the inspection of and copying by <br />the Agency, the Series 2008 Insurer, any other Insurer and any Owner, and their agents and <br />representatives duly authorized in writing, during regular business hours and under reasonable <br />conditions. <br />Section 6.06. Compensation and Indemnification. The Agency shall pay to the <br />Trustee from time to time reasonable compensation for all services rendered under this <br />Indenture in accordance with the letter proposal from the Trustee approved by the Agency and <br />also all reasonable expenses, charges, legal and consulting fees and other disbursements and <br />those of its attorneys (including the allocated costs and disbursement of in-house counsel to the <br />extent such services are not redundant with those provided by outside counsel), agents and <br />employees, incurred in and about the performance of its powers and duties under this <br />Indenture. The Trustee shall have a lien on the Tax Revenues and all funds and accounts held <br />by the Trustee hereunder to secure the payment to the Trustee of all fees, costs and expenses, <br />including reasonable compensation to its experts, attorneys and counsel (including the allocated <br />costs and disbursement of in-house counsel to the extent such services are not redundant with <br />those provided by outside counsel). <br />The Agency further covenants and agrees to indemnify, defend and save the Trustee <br />and its officers, directors, agents and employees, harmless against any loss, expense and <br />liabilities which it may incur to the extent arising out of or in connection with the exercise and <br />performance of its powers and duties hereunder, including the costs and expenses of defending <br />against any claim of liability, but excluding any and all losses, expenses and liabilities which are <br />due to the negligence or misconduct of the Trustee, its officers, directors, agents or employees. <br />The obligations of the Agency and the rights of the Trustee under this Section 6.06 shall survive <br />resignation or removal of the Trustee under this Indenture and payment of the Bonds and <br />discharge of this Indenture. <br />Section 6.07. Deposit and Investment of Moneys in Funds. Moneys in the Debt <br />Service Fund, the Interest Account, the Principal Account, the Reserve Account, the <br />Redemption Account and the Costs of Issuance Fund shall be invested by the Trustee in <br />Permitted Investments as directed by the Agency in the Written Request of the Agency filed with <br />the Trustee, except that moneys in the Reserve Account shall not be invested in Permitted <br />Investments having a maturity of more than five (5) years, unless any such Permitted <br />Investment is described in clause (g) of the definition thereof. In the absence of any such <br />Written Request of the Agency, the Trustee shall invest any such moneys in Permitted <br />Investments described in clause (d) of the definition thereof, which by their terms mature prior to <br />the date on which such moneys are required to be paid out hereunder. The Trustee shall be <br />entitled to rely conclusively upon the written instructions of the Agency directing investments in <br />Permitted Investments as to the fact that each such investment is permitted by the laws of the <br />State, and shall not be required to make further investigation with respect thereto. With respect <br />to any restrictions set forth in the above list which embody legal conclusions (e.g., the existence, <br />validity and perfection of security interests in collateral), the Trustee shall be entitled to rely <br />conclusively on an opinion of counsel or upon a representation of the provider of such Permitted <br />Investment obtained at the Agency's expense. Moneys in the Special Fund and the <br />38 <br />
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